European Stocks Resume Selloff as DAX Breaches Technical Support
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A tentative rebound in European stocks evaporated in afternoon trading, with Germany’s DAX Index leading losses after breaking below a key technical level.
The DAX fell sharply after crossing below its 50-day moving average, posting its worst drop in almost three months. It closed down 1.4 percent after earlier rising as much as 0.9 percent. The Stoxx Europe 600 Index slid 0.5 percent for a fourth session of declines, wiping out intraday gains of 0.8 percent.